Almost a month in at Northern Land Agency and it is safe to say it’s been a hectic start. Disposals, acquisitions, pitching and partnering are all keeping us busy, not least working with our friends at BXB as we look to draw the marketing of Cowley Hill to a close. Cowley has been a great project to be involved with from it’s inception and the depth and diverse range of interest for such a large opportunity are a sure indication of the current strength of demand in the North West land market.
One consistent message that rings out across the market is the level to which demand currently outstrips supply. Traditional PLC developers remain incredibly acquisitive with ever larger land requirements to fulfil. In addition, large private developers, both regional and national, are increasingly competitive but are being so in a market where open market, for sale development is now only a part of the picture.
Registered Social Landlords are ever more active with their funding and multi-tenure models ensuring strong land offers. Finally, single-family housing PRS operators remain desperate for stock to replicate the success of the early innovators in this sector. A quality suite of contractor developers are there to meet these requirements but are trying to do so in a marketplace more competitive than it has been since 2008.
The result of all this? An incredible level of demand for sites in traditional hotspots and particularly anywhere within shouting distance of the M60. However, perhaps more interestingly, we are seeing a real focus for areas which have previously been less sought after. Demand on the Wyre Peninsula and the M65 corridor is perhaps the clearest, current indicator of this shift, however areas across the entire North West are benefitting from this surge in demand.
At Northern Land Agency we remain focussed on ensuring our friends benefit from this, almost, unprecedented point in the cycle.
We are always available to discuss your site and requirements and to tailor our service to your needs. Do send us an email, we look forward to hearing from you.
John Dunlop – john@northernlandagency.co.uk
Steven Verity – steven@northernlandagency.co.uk